Quote Originally Posted by countygump View Post
Makes you wonder what any future Gov, (Labour or otherwise) will do as the debt has risen almost 3 fold since Macaroon took office in 2010. 811 Billion in 2010 is now 2,365 Billion. Not a lot of wiggle room there? I wonder if they'll leave a note?
They can photocopy the previous note. The real problem will arise when there isn't enough income to service the interest on the debt, then our credit rating goes down so the borrowing costs rises and after that all hell lets loose. Some investors may well then end up with junk bonds (well gilts actually).

It isn't that we seem to have a lot to show for all this borrowing even allowing for the events of the last couple of years.